tv Risk and Reward With Deidre Bolton FOX Business August 12, 2015 5:00pm-6:01pm EDT
our favorite tiny hamster, you remember him, visited happiest place on earth and had the best day you could ever imagine wearing a tiny-sized hat with mickey ears of the adorable internet star nibbled on churros and rode the tea cups that is my favorite part. wow. deirdre, you love tiny hamster. david: in this case -- deirdre: are you kidding me? there is no follow-up to that except maybe this. we'll show you this live shot, completely different in stone. this is outside of tom brady's hearing. of course the new england pats quarterback. we're awaiting his departure from that building there. of course tom brady, roger goodell, clashing in federal court. as you know tom brady is resisting the four-game sit-out, the four game suspension. we'll let you know if there is any news on that front.
meantime what a wild ride for stocks today. in the last 90 minutes of trade, a huge sentiment shift. you can see on your screens, the dow still closed lower but way off session lows. ashley webster with me from the floor of the new york stock exchange. ashley, you were there for all the ups and downs. what stood out to you about today's momentum? >> it was down 277 points as you said, deirdre but i came down here, sorted it out and we finished flat. the question is what did happen? there are a lot of theories out there. i spoke to a pete from qms. he said this is one gaining most traction. the european markets closed 11:00 in the morning new york time. they had a dreadful day in europe. worst day of the year. cac down more than 3%. so europe closed down very poorly. at same time apple's stock bottomed out right around $109 a share. then we started to see a little
it about money coming in. as stocks started to move higher, eventually apple got up to 115 as you can see. that pulled up dow wit. more money came back into the market, creating momentum. then we had short-covering. after being down 27 points, markets in europe closed. we started to give it a refigure. we saw tech leading back the rebound. intel was up 1.7%. look at the intraday here. there you go, just at low points, just before 11:00 a.m. after 11:00 a.m. you see that come all the way back and by gosh, the dow essentially finishing flat for the day. we mentioned tech but energy sector doing very well. i say very well. not that oil suddenly came back to 50 bucks a barrel. it stopped the bleeding if you like. transocean up nearly 4%. con know, exxon, chevron were up nicely. they helped turn around.
take your dramamine tomorrow, deirdre, because i have a feeling the china story has not gone away. it will be choppy for a while. deirdre: dramamine, that is good recommendation, thank you very much. ashley webster from the floor of the new york stock exchange. what a ride. for someone who manage this is kind of volatility for a living we bring in wealth manager ty young. ty, you heard my colleague ashley talking about oil turning around, apple turning around. what do you think of investing environment right now where you start with triple-digit losses and end where we did? >> i don't know about china, deirdre. they juts made a big move. they devalued their currency by 3%. that indicates to me they're in big trouble. just a couple of facts. their consumer price index is down 4% in july alone. exports are huge for them. down 8.% in july alone. fixed asset investment down at 15-year low. that is bad for china markets and bad for markets around the world.
what this appears to be desperate attempt to save a failing economy in china. deirdre: for long haul though, does what china is doing now, that is to say the devaluation, does it change what you're doing with your money? >> no. china scares me. you have to keep in mind or i keep in mind as we invest, these folks are communist, not capitalists. they could capitalize their markets, i don't think they will but they could at anytime. their markets don't have same kind of rules or history. that is risk i would steer clear. probably more risk than there is reward. deirdre: ty, you are not alone on that. gop presidential candidate donald trump told us this earlier. >> think you have to do something to rein in china. they continuously cut their currency. they devalue their currency, i've been saying it for years. they have been doing it for years. this isn't just starting. they make it impossible for our
business or companies to compete. they think we are run by a bunch of idiots. what is going on in china is unbelievable. deirdre: ty, i heard you say you have no exposure to china, being invested there scares you, your words. what are you doing in the u.s.? are you becoming more defensive? are you buying more gold? are you buying more bonds? is there something, some shift with the money you're managing here based on what china is doing, based on even if it's a fear factor? >> china is a factor, deirdre, when they come to our firm, we're different. they want to protect money against losses and want to earn reasonable rate of return along the way. that is what we strive to do for them. deirdre: ty, thank you very much wealth manager, ty young focused on long term. for a different picture we bring in a china bull and bear. brian wesbury, chief economist at first trust advisors. he says concerns about china's economic downturn and potential
ehe effect on global economy are overdone. jonas max pharis is with me as well. he says china's is concerning. you disagree with our guest yesterday, jim rickards, he said the worst is yet to come. so everyone is on the same page, everyone can follow, here is my conversation with the economist and author of currency wars, which by the way the clip is going viral. >> this could be, as i call the -- i said in 2014 that the fed would not be able to raise rates anytime in 2015. wall street said mars, they said june, now they're saying september. now we're hearing december. forget it. 2016 or maybe 2017. we're in bad shape anyway. this is the nail in the coffin. the fed can't raise rates. deirdre: brian, why is jim rickards is wrong. >> jim forgot to tell you he said last year when the dollar was weak it was going to crash around create a depression in the united states.
so if we're going to tout our records, let's go both ways, you know? jim's been into this currency war thing but let's take one quick look at china. yes their currency down 2.7% in the last two days. but their currency is up in the past 10 years versus dollar, 29.7%. if you look at a chart of the chinese yuan it has gone up. donald trump is wrong. jim rickards is wrong. this is a baby move by the chinese. if you want to look at currencies that are weak, look at mexico. they're down 20%. the peso is down 20%. the japanese yen is down 17% down in the past year. euro down 16% in the past year. add up all the countries we trade way more with mexico, europe and canada and japan than we do with china. this idea somehow the chinese moving their currency is going
to end the world is nuts. it is nonsense. it is crazy. i hope investors don't listen to this stuff. deirdre: brian, i love your clarity. clear, strong, point of view. and contextual points well-taken as well. but, max, you think brian's wrong, right? >> he is wrong because the points he is making are right but not taking it to the logical extreme. first of all, china is not allowing their currency to fall as much as -- that is the problem. they need to let the yuan fall 20, 30%. that is what the market would do if they got out of the way. not that they're manipulating anymore. they tied their currency to this wagon that is the u.s. dollar. that worked for them in the early 2,000s when our currency was declining. but they have been riding us up. that is terrible thing for exporting country whether gem any or japan or china. they could have tied to the yen or euro they would be sitting pretty. that is not why it is not a good investment yet. this bubble is falling apart since 07. not this recent spike back and
forth. it is not over as far as as avalanches until all the money that went into emerging markets last seven or eight years including commodities. that hasn't happened yet. so it is not a bargain for investors. deirdre: brian, just to respond to that the -- >> sure. deirdre: what if in fact the past or rather the future is different than past patterns? >> yeah. i mean, that makes, look, there are good points hire. china is a communist country. by the way i'm not telling people to go buy china. what i'm telling them is that the u.s. is going to be fine no matter what china does. they do have a peg. the government controls their currency. that is not not a good thing. they ought to allow market to control it. why the imf will not let them into the sdr you can not allow a controlled currency into a basket of market-driven currencies. there is no reason to have one. the bottom line, when i look into the future, china, they
have grown 10% a year for going on 20 plus years. they have slowed down to seven. they will probably slow down to four or five. if you want a good investment go to india. at least they're a democracy and they have a rule of law. that is where i would rather invest than in china, if you're really into emerging markets. deirdre: all right. points well-taken on both sides. thank you so much. our china bull, brian wesbury, chief economist at first trust advisors. china bear, jonas max ferris, joining us from maxfunds.com. co-founder and editor. asset classes of all kind are adjusting to the volatility. gold included. there is now a five-day rally. fox business's phil flynn is with me from the cme. the five-day rally, is this just pure fear? >> it is but i think there's more to it, deirdre. i think we're seeing a concern about currency war and currency devaluation. as you know many gold bulls have
been saying listen, if they're devaluing currencies around the globe it will be bullish for gold and initially it was until the entire world seemed to be printing money and gold was out of favor. this recent concern about the devaluation in china, how bad things are, how bad is the global economy, will this spread to other countries is making gold look better as an alternative investment against a devalued currency and how bad this is going to be. deirdre: phil, is it completely off the charts, i know it is off the current one to talk about gold back up near 2,000 but will that ever happen again? >> i think it will happen again. maybe not, you know, right away over time but generally speaking if you look at long-term charts, generally we retest all-time highs versus all-time lows. there will be a cycle again where gold will hit that area. listen, right now one of the factors fighting against the gold rally has been this deflation story in china, in india, and throughout the entire world and that really has hurt
gold but if we continue to stimulate the economy, if it ever turns around we do get inflation some pint in the future gold will be beneficiary. if that day is coming soon i can't tell you. we definitely look like we're near a bottom. deirdre: it's a clearplay. phil flynn, thank you very much, joining us from the cme with the very latest on gold. speaking of, the editor of the gloom boom and doom report, my guest, mark faber will join us 5:00 p.m. tomorrow. he has been warning about china's bubble for quite a while. when we come back, in the meantime, two key top secret emails from hillary clinton's state department tenure on her personal server. our next guest is a cyber forensic expert. he will tell us how the feds could find more. ♪ ♪
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deirdre: you are looking right now at a live shot outside of tom brady's hearing. the star quarterback of course for the new england pats. we're awaiting for his departure. you can sigh the door is remarkably still. we'll bring it to you when it comes. nfl commissioner roger goodell and tom brady essentially duking it out. at issue here, these four suspensions tom brady is american to sit out for the "deflategate," alleged "deflategate" scandal. we'll bring it to you when tom brady comes out of the building. on your next trip, do not expect bacon. it is getting expensive at least if you judge from pork belly prices. from a five-year low in april, prices have spiked more than 170%. so far the increase not showing up in supermarkets. consumer prices are lower than
last summer when a pig virus decimated the hog population causing scarcity. an explosion in china left seven dead and dozens injured. the flames lit up the sky and blast blew up dust dozens of meters high. the final cost or casualty count is not immediately known. one of the hospitals is said to received more than 50 injured people of the as we mentioned seven deaths unfortunately have been reported so far. switching gears entirely, moving to tech, a big samsung event happening tomorrow called unpacked. it will be featuring most anticipated galaxy note 5 fablet competing with apple 6 plus products. be sure to tune in tomorrow for that event and analysis. bringing government together, hillary clinton's email server and thumb drive she used while secretary of state now in the hands of the fbi. at least two emails contained
top secret information. with his take what happens next, we bring in ira victor, a digital forensic analyst with data chrome labs. as far as what the fbi can do with the hard material, how many more emails can think extract? >> oh a lot. they can recover a lot of emails. this is what is important to understand about emails. email serves and systems are spoke and hub. lots of people having lots of conversations between each other. so lots of places to look for an email. you don't need every single email to be recovered to get the gist of a conversation because people reply to an email, they forward it to someone else. the trail of that conversation is often below what someone is saying above it. so you just need to piece together enough to say, hey, this conversation was about the following topic, maybe, national security. or something that is just innocuous.
so there is a lot of data to collect not just from the server, not just from the thumb drive, but think about the backups. according to mrs. clinton there were, she was, this email server was managed by a professional company. the company has backups. the computers, the laptops, the smartphones, the tablets of the users of the email server, they contain emails. then all the people that were communicating with the users on that email server. mrs. clinton, huma abedin, all those people who had accounts on the server, they were talking with other people and those other people have servers and devices where the data can be recovered. so i'm highly optimistic we're going to see if there is true diligence done by the fbi and the department of justice, there will be a lot of email traffic to emerge from this investigation. deirdre: ire remarks i hear what you're saying, on a much lighter case, tom brady right, the new england qb star, i mean he
destroyed his cell phone and apparently the texts were gone although he says he didn't -- actually we're waiting for him to come out of the court building. i hear what you're saying where there are some users there is in fact the cloud at play? >> right. what is interesting about the tom brady case is that he says he was using a samsung device. samsung's smartphones by default, when you receive a text, a copy is sent to your email account. so i don't need the samsung phone necessarily. i can go to the email service provide they're tom brady uses probably capture, again, a good portion, enough to tell, was there a conversation about deflating footballs. deirdre: but it sound like at the end of the day privacy obviously no longer privacy. right now, our viewers are looking at the screens. you just saw tom brady walk out of the court building. the new england pats quarterback walking out from the court.
he was there, spent all around, with roger goodell, i should say, with the nfl commissioner before a judge. at issue, as you know, brady is fighting a four-game suspension imposed by the league for his alleged role in deflation of footballs. that was before the afc championship game. as you know that led to the super bowl. the idea to resolve the matter by september 4th. but as you just saw, tom brady get in a car there, he apparently is not taking questions from the press. we want to get back from the matter at hand, more serious i should say. secretary of state, hillary clinton, during her tenure there, former secretary of state, these two top secret emails that ended up on a personal server, i want to bring in randy, right beside he here in the studio. he is a white-collar attorney. so, randy what do you think is the worst-case scenario, from a legaller speculative, not a political one for hillary clinton?
>> legally there is actually a criminal statute, a federal criminal statute on the book that says if you are not intentionally doing something, but you are grossly negligent in taking classified information and allowing it to go from where it is supposed to be to a place where it is not supposed to be, you could look at 10 years in jail. deirdre: 10 years in jail. what is likelihood, randy on a scale of one to 10 that hillary clinton is prosecuted and serves any jail time? >> it is so difficult to say and it is so unfair to be able to answer that because let's say, if it were me, if i go work for a company and i sign an agreement that says i will not disclose any company secrets. and i will not take anything off premises and i take stuff off premises, you know what? i'm growing to get fired. i'm done in the industry, depending what i do i could be prosecuted criminally without a second thought. here counter intuition is, if you go after mrs. clinton
criminally, at some level she could use that look, they don't want me in office. look at lengths they will go. counter intuitively, don't have her prosecuted. let all of it hang out there and say you can trust her? deirdre: in other words a slow death, what you're saying? >> a long way to the election. deirdre: it certainly is. in other cases you made other comparisons. do you see anything -- i think of petraeus. from what i understand there are three levels of security and what was found is planning calendar, a book in his desk drawer at home was thought to be sort of this first level of top secret security. from what i understand of these two emails that were on clinton's personal server, they were three out of three if you're giving a level. >> you have that problem. the seriousness and the level of security but then you have all of these 30 some odd thousand emails that are gone. you can't take anybody's word, oh, i checked it and i deleted
them. that's really great. deirdre: we're hearing from our cyber expert. >> in the first place you should not determine what should go and not to go. that is for us to do at the government level. deirdre: randy, so good to have you with us. thank you for coming in. >> thank you. deirdre: joining me there, white-collar attorney randy cell in. alibaba's stock going down after revenue miss. ceo's reaction next. what caused this drone to come down in midair? we're back in a few. you drop 40 grand on a new set of wheels, then... wham! a minivan t-bones you. guess what: your insurance company will only give you 37-thousand to replace it. "depreciation" they claim.
. >> it really is hitting a serious low here. and you haven't even been a public company for a year yet. >> as we always said, we manage our business not by share price. we manage our business for the long-term growth. and we feel confident for the long-term growth and we will continue to try to create value for customers and merchants.
deirdre: that was the ceo of alibaba, daniel zang with jo ling kent. top line beat, revenue missed. morgan creek capital management ceo mark with me now, great to see you, thanks for coming in. >> great to be with you. deirdre: you bought alibaba before it went public in the private markets, 2011, you added in 2013, and i know you've been adding slowly but surely since the public has been -- >> nibbling, nibbling, and getting more excited the last two days. deirdre: getting more excited? >> yeah. deirdre: obviously, you see this as a buying opportunity? >> one of my favorite lines is why is investing the only business which things going on sale, everyone runs out of the store. come on. come on. so i think we look at it as is that the dominant e-commerce franchise in china? check.
is the e-commerce business in china going to be bigger or smaller in ten years? hugely bigger. deirdre: people say keep it simple, stupid. >> slug that into hp 12 c, that's 65 times bigger market. deirdre: so all of the concerns we saw economic, three economic data points out earlier which made a lot of people say china is definitely not growing at 7%. much, much lower. the devaluation of the yuan and you have a particular view on that as well? >> why do we call it devaluation? the yen weakens, the u.s. dollar weakens, the ecb weakens currency all the time by far bigger numbers. far bigger. and this goes down 2% and it's a devaluation? come on. so look -- >> you're saying the chinese government is not that different, not that much more heavy handed than the fed or the ecb or the boj.
>> they know that in a world of currency wars, that if they are going to tie their ship to the u.s. dollar, you had people in here earlier talking about this. tie the ship to the u.s. dollar and the dollar is rise and the japanese are lowering currency, you have to fight back. deirdre: you would be accretive, you would be adding now. i want to know what you think of the $4 billion buyback? stereo typically we say if a company that size with that much cash on hand isn't doing something r&d research and development internally or making acquisitions, they don't have better idea what to do with the money. >> couple things, right? i think it's a little gimmicky. it's small number, not that four billion isn't a lot of money, but relative to market cap, and here's the thing, they do have a lot of things going on. their cloud business is rocking. people don't even know about
it, and it is growing like a weed. deirdre: and we talk about that with amazon as well. until two years ago it became such main press that amazon gives a lot of money from the cloud service. >> you're talking about ali pay in a minute. lots of opportunities. it's okay saying, okay, look, if people are worried about the short-term price because everyone upons to a short-term investor, we'll increase the maxmization or return cash to shareholders. they have a lot of cash and lot of opportunity, and china's growth overall is slowing but people are focused on the quantity not the quality. you want low numbers, think about the u.s. growth or european growth or japanese growth. the biggest market cap increases are not growing 10%, it's 3 or 4%. quality of growth that matters. deirdre: leaving us with a lot of common sense which is not so
common, we're extra grateful. mark yusko, early investor in alibaba. well, staying with this theme of tech and business in china, one of the elements to the alibaba story as mark yusko mentioned is the connection to ali pay. jack ma spun off ali pay in 2011. money markets controls more than $93 billion worth of funds. with me now is a thin tech expert future of payments guru bain capital ventures managing director matt harris. great to see you. >> you, too. >> so we have alibaba as you know about and heard, in the context of ali pay and someone who knows payments, how do you see ali pay executeing? . >> the big news was last week's news that the chinese government issued new rules about levels of online money, commerce and transfers that are going to limit nonbank's ability to be major players.
the rules still need comments and they're not final yet, but it's the first reversal of what is historically a supportive chinese government position towards the online financial services. deirdre: so maybe wanting a little more control, matt harris, hold that thought. we have a quick break to take, back shortly. more with matt harris from bain capital ventures when we come back. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line. what's in your wallet?
ventures managing director matt harris. before the quick break, we were talking about alibaba, then alipay, you gave me a great statistic between alipay and ten cent they have 70, 7-0, 70% of market share for any e-commerce transaction in china. that's huge. >> it is. justifiably disconcerting. deirdre: to the banks, anyway. >> to the banks and the government that owns the banks. in china you are playing with the referee when you compete with the banks. i don't think there is existential risk to alipay, the limits on transaction size are meant to send a message for little things, little purchases, little transfers, you can have, that for big transactions, you got to go through a bank. deirdre: so fair enough. that is what's going on in epayments in china. >> right. deirdre: what about the u.s.? you have spent a decade building your portfolio to
shift to the way we are all interacting with our money, and it's all online? >> our thesis has always been e-commerce moves way more quickly than instore payments. deirdre: sure. >> i think that's bearing itself out. deirdre: especially for apple pay. >> i use it for buying things in apps and iphone userstuse for buying things in apps. deirdre: do you think that's because you're a techy and know what you're doing. the overall numbers for apple pay and apple watch we seem to glean are not that impressive. >> it's in the teens, it's early adopters, you are essentially calling me a nerd, and that's okay, i owned it. deirdre: fine, charming, smart, never bad things. >> okay. deirdre: you're in there and using it. >> the early adopters are using it, they're not using it in stores. deirdre: just because you
haven't seen it deirdre bolton at the supermarket or wherever you're going, no need to judge apple. i hear you, i back down. what about apple pay with paypal, this partnership which essentially is meant to benefit both? >> because we were waiting for it. between paypal's announcement their reader would accept apple pay and rite aid, they teamed up for the competing currency it's called. they capitulated and stores will take apple pay. so the dominoes are falling. >> the convergence is slow, no less fervent. i have to ask you why you are here, about bitcoin. it gets back to the idea of volatility, and people not knowing, think about the monty python sketch, you're bringing three chickens for a goat. there is a lot of confusion in international space. does that mean bitcoin is back? >> we haven't been reduced to
bartter yet. but it's interesting when greece looked like it was falling out of bed, bitcoin price had been stabile, around 230, $240 per bitcoin and went up to 310 in the course of two or three days. it settled back down to 260, 270 and saw another blip as china has been messing with currency. deirdre: in greece, which is very much a cash economy, there was a bartter system, at the atm, people couldn't take out more than 60 euro per day, and they ran out of 10 euro bills so it went to 50 euro a day. >> there's a sign of the apocalypse. the price moved but the trading range is bound on bitcoin. the latest news out of bitcoin land is the growing conviction that the architecture behind bitcoin, the block chain, the
way the transactions are settled, that can be useful to settle real money transactions, there are smart people working it. deirdre: paypal essentially started. co-founders talk a lot about, they were trying to find a different measure, a different currency and ended up with paypal. it is great to see you matt harris. early adopter matt harris from bain capital ventures. when we come back, tim cook under pressure, the next iphone may be a dud. fill you in on that when we come back. this allergy season,
ad gate. some are saying the launch is not going to be that different or that compelling a purchase. >> yeah, i think so, i think the technology is pretty much similar, there might be some upgrades, they may have changes, but you know, i think that you know the purchasing cycle of a phone is every two years, so the people who have bought things like the iphone 4 and 5 are in line to get the next upgrade. so outside of perhaps globally which matt and i were talking about, in china, they might have difficulty selling it, the sales should be strong. >> that was the rock star data point from the last quarter, all you doubters that thought chinese wouldn't buy iphones, we sold an amazing amount of iphones in china. with the devaluation concerns about the economy, maybe the consumer slows down. what is your take on apple in september? >> i think the phone launches
won't be that spectacular of launches and what you will see what they traditionally call s-release, they're going to add force touch to the device, faster processors. deirdre: few gimmicks. >> to sell phones. i think china, it's going to be painful for them, not only is the economy weakening, it's going to get more expensive to sell products into china. deirdre: that's a great point, currency conversion hurts. >> exactly. deirdre: with wants to give equal air time to apple competitor samsung, most of the product details, first of all the big unveiling is tomorrow, and most of the details about the product's command have been leaked. from what you heard, brad, do you think there are people who have iproducts who would switch over to samsung? >> i think it's been hurt, because there's phablets, a phone and tablet, about 5 1/2 inches. deirdre: like the iphone 6.
>> i think that took a lot of steam out of it. that's one of the reasons samsung calling this unpacked is pushing ahead. it was supposed to be announced in berlin next month but i think because of the rumor that apple was announcing their new launches in september, they moved it to tomorrow. but there's certainly a market that if you look at second quarter, 13% of smartphones were these big screens, were the 5 1/2 inches or more, and people don't use these phablets for phone calls, video has become such an important component of that. deirdre: video is an important component, but samsung in addition to all this also quite frankly goofed up on production. do you remember? a lot of people were interested, tried to buy the phones and we didn't have enough phones. >> they'll undoubtedly correct that, to answer your question there are that many apple lovers switching to samsung.
screen on one, stylus on the other. if you're a droid lover, i don't think that is an option, i don't think anyone is going to switch from 6 or 6 plus to one of these. deirdre: will they use a mysterious twitter like product that facebook is developing, brad? >> i can see why people think it's twitter, because you get the newsletter -- deirdre: there's a news feed. >> there's 100 characters that link you to the full story. news is so ubiquitous, and they have instant access and apple released something similar a couple of months ago. deirdre: to say nothing of the deals with the publishers and the idea i think from facebook's point of view, they want to be home screen on the pc, they want to be home screen on the phone and maybe this is one more way, don't leave our facebook universe, you can get your news with us, right? >> exactly right.
what twitter has done is taken a lot of the live broadcast, live news stream and captured that audience and facebook has not. only 30% of people who read news on facebook follow breaking news. 60% of twitter users who read breaking news are following it on twitter. combination of that as well as apple's live news space are promoting facebook to do this. deirdre: journalists use it, i use it, i'm an addict, if you're not in media, news, sports, i don't know if it has the same value. >> i think so, i think that's one of the frustrations, with twitter, you don't get news, you get comments and things like that. for me, i don't follow them, i'm like you, i want to get what people in the industry are thinking what's going on in tech and media, and i think that there's frustration between what the two have to offer, and to matt's point, facebook does want to compete with twitter in this live news space, and also serve as a curator like flip board and apple.
deirdre: tons of good ideas, thank you, both, matt and brad, joining me there. when we come back, they are not just a hookup app. social dating company tinder takes to twitter to criticize in a tweet storm, no other way to say it, 31 tweets to say that the "vanity fair" piece was unfair. also unfriendly skies, what in the world took down this drone? we'll tell you after the break. ? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled copd maintenance treatment that helps open my airways for a full 24 hours. spiriva helps me breathe easier. spiriva respimat does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva respimat. discuss all medicines you take, even eye drops.
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be single are married. tend are's pr team responding saying that nancy joe, if that survey is correct, we're here. there was a tender tweet storm for next two hours straight, one cofounder, with me now. were you up all night reading through 31 messages. >> i was not, i missed it. >> do you know person who was tweeting that out. >> i have no idea who is responsible, i have no comment on the situation. deidre: you have moved forward. we have founded a new dating site, bumble. why did you leave tender what was missing that you created at bumble?
>> my detar parture has -- departure has nothing to to with bumble. women feeling a bit nervous to make the first move, men feeling pressures to go first, on bumble the women makes first move, she has 24 hours, that creates a little bit of excitement it puts some flattering in the guy's court, and confidence in the women's court. deidre: so how does it change the tone. biggest difference? >> so, i am a tomorrow believer when there is no fear of being turned down or rejected. that anticipated kind of defense mechanism goes away. if a man doesn't have that 50/50 chance of getting rejected and he is met with flattery, he responds in a really kind, and pleasant way.
deidre: a kinder version of some other apps. you have it kind of viexpect p you -- vip you call it vib . >> yes. deidre: why is this important. >> we're about to roll it out it is not mend to punish or weed out any users, this is a way to reward our active and engaged users. >> sounds good, vibksib we like. >> thank you. deidre: bumble founder joining us, we're back with more on "risk & reward."
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special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. information for an athlete's medical care, or information to track their personal best. with microsoft cloud, we save millions of man hours, and that's time that we can invest in our athletes and changing the world. at ally bank no branches equalsit's a fact.. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda. deidre: drone popularity is soaring but they are no match for -- birds of prey, the drone
collided with a eagle, it is unclear if the bird attack out of anger or hunger, but the bird was unharmed. >> thank you for joining us on "risk & reward" issue dr. ben carson on "making money" with chaicharles payne right now. charles: most impressive unchanged session, dow finished about flat but it was down 270. i'm buying the dip, in china's currency war is not the biggest threat, the eventual conflict that will rock the world. >> dr. ben carson continues to gain traction. i spoke with him, here is what he said. >> thank you for joining me we heard a lot about your tax policy, i saw you this morning,